XAU/USD Trading Positions

XAU/USD

In the Forex market, gold is a form of currency. The particularity of gold is that it can only be traded against United States dollars (USD) because it is the country that holds the biggest resources of gold in the world. The internationally accepted code for gold is XAU. It is known to be a “safe-haven” asset, it is expected to increase its value in times of volatility and economic uncertainty.

Important assets for XAU/USD

Currencies: USD and EUR.

Commodities: Silver, the other most important precious metal commodity together with Gold.

Bonds: Bund (the German word for "bond", a debt security issued by Germany's federal government) and T-Note (Treasury Note, a marketable U.S. government debt security).

Indices: Hui (AMEX Gold BUGS), XAU (Philadelphia Gold and Silver Sector Index) and GDM (NYSE Arca Gold Miners Index) The most important stock exchanges are the New York Mercantile Exchange (COMEX), the Chicago Board of Trade, the Euronext/LIFFE, the London Bullion Market, the Tokyo Commodity Exchange, the Bolsa der Mercadorias e Futuros and the Korea Futures Exchange.

There’s no doubt that a strong belief in yourself in any context is going to, in many cases, be the difference between thriving and going down. Of course, this notion also applies to your trading. If you are saddled by limiting, irrational or negative beliefs about yourself or your trading, you are going to experience some tough times. Also, beliefs can be used as a tool; and like a new suit of clothes, you can try on a new belief that is designed to take the place of a belief that doesn’t work for you, just to see how it fits.

In normal market conditions, placing a 2 lot position is fine when you are looking to make about 50-100 pips. During a more volatile time, when the potential loss is 100-200 pips, it stops being an effective risk to reward ratio. To compensate, traders should look to taking on smaller trading positions, in this case only one lot as opposed to the average 2 lot position.

Reading is a key factor for being a well-informed trader. I do usually read trading books every other night before going to bed. I do also read news and financial journals during the day. Reading has become an integral part of my journey of self-discovery as a trader. I have come to realise that reading might not make you a successful trader, but at least it will shape you as one. Here, I will walk you through some of the truths about trading.

It’s time to cast our eyes over some strategies for scaling into a position, a common FX trading technique.There are two main scaling in techniques when dealing with Pin Bars. We’re going to look at the advantages of both strategies and how you can make them work for you.

Currency Trading Positions

The purpose of the Trading Positions table is to provide a glance of XAU/USD as to where our dedicated contributors are currently positioned. You can access the original analysis reports by clicking on each position.

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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

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